Maharashtra Approves Rs 50,000 Crore Bamboo Industry Policy To Create Over 5 Lakh Jobs

The Maharashtra cabinet on Tuesday (14 October) approved its bamboo industry policy, which aims to attract an investment of Rs 50,000 crore and generate more than 500,000 jobs.

Chief Minister Devendra Fadnavis chaired the cabinet meeting that approved the Bamboo Industry Policy 2025, marking a significant push towards sustainable rural development in the western Indian state.

Under the Maharashtra Bamboo Industry Policy 2025, 15 dedicated bamboo clusters will be developed across the state, with a focus on leveraging the carbon credit market.

The policy seeks to promote bamboo cultivation and processing industries, offering farmers an eco-friendly and sustainable income alternative comparable to cash crops.

The policy aims to attract an investment of Rs 50,000 crore and generate more than five lakh employment opportunities over a period of 10 years.

The bamboo initiative builds on earlier state commitments, with Chief Minister Fadnavis having announced in September that the Maharashtra government would soon implement the bamboo industry policy by laying focus on creating sustainable market to promote bamboo cultivation.

He stated that bamboo cultivation will be useful in meeting the challenges of climate change in the agricultural sector. The policy also aims to tap into the lucrative carbon credit market, offering farmers an environmentally sustainable income source.

Maharashtra's bamboo push follows national efforts to promote the versatile crop, with a Rs 4,000 crore project for bamboo-based industries to be implemented over the next seven years with support from the Asian Development Bank.

The state will place emphasis on bamboo cultivation in the districts where there are energy projects and will undertake a major campaign of bamboo cultivation on government fallow lands, creating opportunities for biomass fuel, ethanol production, furniture manufacturing, and other bamboo-based industries.

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